360° Coverage : Tax Extenders Bill Stalled In Senate

2 Updates

Tax Extenders Bill Stalled In Senate

May 18 2014, 12:50am CDT | by

Remember that Tax Extenders Bill that seemed to be moving ahead? Consider it stalled. Amid a flurry of proposed amendments to the bill, Sen. Harry Reid (D-NV) moved to consider a cloture motion on...

Filed under: news

 
 
 

22 weeks ago

Tax Extenders Bill Stalled In Senate

May 18 2014, 12:50am CDT | by

Remember that Tax Extenders Bill that seemed to be moving ahead? Consider it stalled.

Amid a flurry of proposed amendments to the bill, Sen. Harry Reid (D-NV) moved to consider a cloture motion on Amendment No. 3060 to H.R. 3474. H.R. 3474 is the Hire More Heroes Act, originally intended “[t]o amend the Internal Revenue Code of 1986 to allow employers to exempt employees with health coverage under TRICARE or the Veterans Administration from being taken into account for purposes of the employer mandate under the Patient Protection and Affordable Care Act.” The amendment was offered “in the nature of a substitute” which means that it would strike out the entire text of the bill and replace it with a different text.

Cloture is a procedure by which the Senate can put an end to a debate without actually voting a matter down. Procedurally, what happened is this: a motion was made to table Amendment No. 3060. By rule, no debate is allowed on a cloture motion. A vote in favor of cloture is a vote to end debate on the original matter and go to a vote (in this case, the tax extenders bill) while a vote against is a vote to keep debating.

The vote was 53-40 in favor but since the Senate needed 60 votes, by rule, the measure will remain open to debate and will not move to a vote. Those who voted did so along party lines with Sen. Reid breaking ranks to vote no, a move for the sake of procedure, and Sen. Mark Kirk (R-IL) voting yes (you can see the roll call here).

Why the divide? Republicans in the Senate accused Sen. Reid of not wanting to broker a deal on the bill, including adding provisions that would eliminate the wind production credit and repeal the ObamaCare medical device tax. Sen. Reid has suggested that the debates were simply a political tactic and that any amendments to the bill could be offered later as an amendment package.

The result? Both sides are crying foul while the future of the bill remains uncertain. The measure could come up for debate in the near future (that’s why Sen. Reid voted no, in order to do so) but chatter suggests that we won’t hear about it again until after the elections.

Want more taxgirl goodness? Pick your poison: receive posts by email, follow me on twitter (@taxgirl), hang out with me on Facebook or check out my YouTube channel. If you want to keep an eye on documents I’ve posted, check out my profile on Scribd. And finally, you can subscribe to my podcast on the site or via iTunes (it’s free).

 
Update
2

8 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

8 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tr ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Mexico joins efforts to combat Ebola outbreak in West Africa
Mexico City, Oct 25 (IANS) Mexico is joining the international efforts to combat an outbreak of the deadly Ebola virus in West Africa, the foreign affairs ministry said Friday.
 
 
Both US nurses recover from Ebola: hospitals
Washington, Oct 25 (IANS) Both US nurses who contracted Ebola while caring for a patient from Liberia have recovered from the potentially deadly disease, the hospitals that treated them said Friday.
 
 
UN gives Rwanda $7.2 mn for policy planning
Kigali, Oct 25 (IANS) The government of Rwanda and One UN Rwanda Friday signed 7.2 million dollars financing deal to build capacity in data generation and enhance evidence based on policy planning.
 
 
US nurse with Ebola to be discharged from hospital
Washington, Oct 24 (IANS) A US nurse infected with the Ebola virus disease while caring for a patient from Liberia in Texas will be discharged from hospital soon, the US National Institutes of Health (NIH) said Friday.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla